﻿<strong>Mortgage Type:</strong><br />
<p>
    <strong>Refinancing</strong> refers to going to a different bank to apply a new
    loan to replace an existing loan. Before refinancing your loan, you should check
    on the charges you may incur (e.g. lock-in period, claw-back period) upon cancellation
    of your existing loan.<br />
    <br />
    <strong>New Loan</strong> includes buying a new or a resale house.
</p>
